What is EPFO?
EPFO (Employees’ Provident Fund Organization) was established by the government of India, and the reason behind starting it was to secure & ensure financial and social security for industrial workers and their dependents. This scheme is very useful because, with the help of this scheme, an employer can save one part of his income which he can utilize after retirement until he dies he will get installments every month So that he can survive his life very smoothly and comfortably without any hindrance or if he supposedly died in the middle of his working days then the nominee will be given to his family. This is one of the biggest social organizations in the world. When this was launched mainly focused on rules and regulations of Operational processes. But at the start of EPFO transparency, accountability, effectiveness, and efficiency were weak. Consequently, First and foremost they focused on the security of industrial employees was compromised.
EPFO Full Form – Employees’ Provident Fund Organization
EPFO Full Form: EPFO (Employees’ Provident Fund Organization) is a scheme that was started by the government in 1952 To provide the same facility for workers, employees, etc. As we know for private workers no pension is provided by the company once they pass 60 years according to the rule of government. So many of them have to face a lot of financial problems such as an Accident, marriage of our children or any disease got and so on.
EPFO provides social security and retirement benefits to the employees and helps them to live comfortably after their retirement. In this article, we will discuss EPFO full form, its definition, features, history, advantages, and how EPFO works.
Table of Content
- What is the Full Form of EPFO?
- What is EPFO?
- Features of EPFO
- History of EPFO
- How does EPFO work?
- Services offered by EPFO
- Advantages of EPFO
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